TAS Group buys Universal Bank

13:15, 27.12.2016 1 min read

TAS Group and Eurobank Group have announced the closure of a deal on the sale and purchase of Universal Bank and TAS Group's acquiring a subsidiary bank of the international group, reads a joint press release of TAS Group and Eurobank Group.

According to the report, the transaction was completed after all necessary regulatory approvals from the Antimonopoly Committee and the National Bank of Ukraine had been received.

"The transaction on the sale and purchase of PJSC Universal Bank was signed in accordance with the long-term strategy for development of the TAS Group financial and will have a positive impact on the strengthening of its position in the banking market of Ukraine," the report reads.

According to its data, the transaction corresponds to the strategic plan of Eurobank Group development and its desire to focus on specific markets where it operates. This decision is also in line with the group's restructuring plan, which is agreed with the European Commission and is being implemented. The transaction will not affect the group capital.